Today the Prime Minister, Malcolm Turnbull confirmed that the Federal Government will become the sole shareholder of Snowy Hydro Limited after purchasing the New South Wales and Victorian Government’s shares in the company.
This is simply a change in the ownership of the shares in the company and for Snowy Hydro it’s very much business as usual.
Snowy Hydro will continue to be a Corporations Act company with an Independent Board of Directors and there are no changes to our operating regime, including the Snowy Water Licence.
Snowy Hydro are deeply embedded in the local community through both our workforce and our existing operations.
We’re continuing to progress the Snowy 2.0 project as we move towards a Final Investment Decision which will be made by our Independent Board of Directors.
For more information the Federal Government’s media release is here: